As consultants to new product development teams, the interplay of team and process is a dynamic that we think about and research on a consistent basis. It’s long been thought that the right hire outweighs a standard process. Smart, talented teams will always figure out how to make it happen. Right? What if we put the right processes in place and train everyone? That will give us the edge that we need. Maybe?
If I can paraphrase Peter Drucker, he talks about the discipline of managing people. He says that you don’t manage people, you lead people and make them productive by enhancing specific strengths and knowledge (Management Challenges for the 21st Century, 1999). He goes on to say that one (people or process) doesn’t determine the other, but shapes the other.
I might conclude then, as managers, we lead people and manage a process and this is holds true for new product development. To gain some insight from today’s product leaders, product development & management research reveals some interesting findings that may help answer this question. Seven years of research highlights six key tenets that will have a measurable positive effect on the success of your new products.
SIX TENETS OF SUCCESSFUL NEW PRODUCTS
- The right functions in the organization are required to support new products and the development process.
- The right individuals who possess the necessary skills to be successful must be hired.
- The right set of tools and training are necessary for individuals to be successful.
- The right metrics must be set at the beginning of the project to gauge progress and measure success.
- The right product teams, with complementary skill sets and similar work values, must be configured.
- The right culture has to be supported by and driven from the top.
These tenets support another of my favorite Drucker aphorisms, “success is more likely to result from the systematic pursuit of opportunities than from a flash of genius.” (The Discipline of Innovation, 1985) Our clients see the benefits in increased productivity and effectiveness by subscribing to the six tenets of successful products everyday. What tenets does your product organization live by?